Chapter 4 The Income Statement and Statement of Cash Flows38

Chapter 4 The Income Statement and Statement of Cash Flows38

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Exercise 4-20 Cash flows from operating activities: Net income $624,000 Adjustments for noncash effects: Depreciation and amortization expense 87,000 Changes in operating assets and liabilities: Decrease in accounts receivable
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Unformatted text preview: 22,000 Increase in inventories (9,200) Increase in prepaid expenses (8,500) Increase in salaries payable 10,000 Decrease in income taxes payable (14,000 ) Net cash flows from operating activities $711,300...
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